Finance
Under HMDA (Home Mortgage Disclosure Act), lenders are required to:
AApprove all mortgage applications from protected classes
BReport data on mortgage applications, originations, and denials to detect patterns of discrimination✓ Correct
COffer the same interest rate to all borrowers
DProvide free appraisals to all loan applicants
Explanation
HMDA requires lenders to collect and report data on mortgage loan applications, originations, and denials — including race, ethnicity, gender, and income — to identify potential patterns of discrimination.
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